Food supplier Uniq sells French business for £62m

Jun 27 2009 Huddersfield Daily Examiner

FOOD supplier Uniq announced the sale of its French business as it focuses on its loss-making UK operation.

The proposed sale of Marie – which makes chilled and frozen convenience foods – to French poultry and delicatessen group LDC will raise £62m. The deal is subject to clearance by competition authorities in France and approval by Uniq shareholders.

Uniq, which is also selling operations in northern Europe, will use £25m to pay down debt – with the rest of the proceeds available for investment and reducing the company’s UK pension deficit.

The group, which lists Marks & Spencer among its customers, aims to focus on its UK business, which has posted an operating loss of £3.3m after a “disappointing” year.